The prices of land in five Nairobi suburbs and satellite towns recorded a slight decline in the fourth quarter of last year, between October and December.
Hass Consult, in its Fourth Quarterly Report published on Wednesday, January 22, revealed that land prices in Gigiri, Kitisuru, Muthaiga, Ngong, and Kiambu towns experienced marginal drops compared to the third quarter, which covered July to September.
According to the report, Kitisuru saw the largest decline among the towns in the Nairobi Metropolitan Area, with a 1.4 per cent depreciation, followed by Kiambu at 0.3 per cent.
Sakina Hassanali, Head of Development Consulting and Research at Hass Consult, attributed the decline to periods of economic uncertainty, which led some developers to postpone decisions to acquire more land.
